The Real Deal Los Angeles

The Real Deal Los Angeles

WeWork buys construction tech company

FieldLens is a project management app

June 08, 2017 09:30AM

Adam Neumann

From TRD New York: WeWork has scooped up a construction tech company to help build out office space for its tenants.

The coworking company acquired FieldLens, a software application that helps various parties involved in a project — the developer, architect, construction manager, etc. — communicate in real time, Construction Dive reported. In a blog post, WeWork’s chief product officer David Fano noted that FieldLens will help the company manage millions of square feet of construction in the coming year.

“Today, there is information loss at every stage of the building process as real estate, design, construction, and operations are provided by a large number of disparate providers,” Fano wrote. “This results in needless waste of materials, time, and capital at the end user’s expense.”

Fano did not disclose the value of the deal.

In 2015, WeWork purchased Case, a building information modeling (BIM) consultancy. Earlier this month, the company launched a new business line — WeWork Wellness — that offers fitness classes and manages a gym.